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Dogwood Industrial Properties (Dogwood), a platform backed by TPG Real Estate that acquires, owns, and operates high-quality, infill, multi-tenant industrial assets in strategic, growth-oriented metropolitan markets, announced today that it has acquired Brushy Creek Corporate Center. Dogwood acquired the property from Manpro Capital. Terms of the transaction were not disclosed.
“We are excited to add Brushy Creek Corporate Center to our growing portfolio in Austin,” said David Sibley Manager of Acquisitions, Dogwood. “With this acquisition, our footprint now exceeds 600,000 square feet across the market. We look forward to continuing our strategy to acquire quality industrial assets in high-growth markets across the country.”
Brushy Creek Corporate Center is located at 1200 BMC Drive in Cedar Park, Texas. The property is a 231,030-square-foot, two-building industrial campus that sits on 16 acres. At the time of sale, the campus is above 70% leased with 61,257 square feet still available for lease in Building 1. Select tenants include Additive Manufacturing Technologies (AMT) Inc., a manufacturer of 3D printing technology, and Hyliion Inc., a provider of electric commercial transportation solutions.
Dogwood is a first mover in a wave of both national and global investment firms looking to take a stake in the Austin industrial market. This is their first acquisition in Cedar Park and their third acquisition in the Austin area. Dogwood has recently closed multiple transactions in Texas and continues to invest in the Austin area.
Leigh Ellis, Blake Patterson and Omar Nasser with AQUILA Commercial handle the leasing for Brushy Creek Corporate Center and represented the buyer in the transaction. Witt Westbrook and Daniel Miller of Cantera represented the seller.
Dogwood Industrial Properties is a platform that acquires, owns, and operates high-quality, infill, multi-tenant industrial assets in strategic, growth-oriented metropolitan markets, including Atlanta, Austin, Charlotte, Nashville, Piedmont Triad, and Tampa. The platform was formed in 2019 by TPG Real Estate Partners, the dedicated real estate equity investment platform of global alternative asset firm TPG. To learn more, visit https://www.dogwoodindustrial.com.
Manpro is an industrial real estate asset manager out of Monterrey, Mexico with strong relationships with Texas based companies in order to operate their business. Their experience and knowledge in the industrial real estate is primarily in the state of Texas and the northern regions of Mexico. Manpro seeks to own AAA properties and to have AAA tenants, building sustainable landlord-tenant relationships for the long term that add clear value to the properties that they own.
Founded in 2007, AQUILA Commercial is a recognized leader in Austin commercial real estate. Today AQUILA manages and leases over 23 million square feet of office, industrial and retail properties and has over 600 corporate tenant representation clients. AQUILA offers clients full-service real estate solutions, providing tenant representation, project leasing, and asset, property, and project management services for office, industrial and retail properties. For more information, visit: www.aquilacommercial.com.